Floki raises $696K pre-Seed round

LatamListFloki, a Brazilian foodtech, raised a $696K (R$3.6M) pre-Seed funding round led by Iporanga Ventures. Other investors in the round include Olist, Viva Real, Guiabolso, and Apontador.

Floki is a digital stock management platform for small businesses in the hospitality service, such as bars and small restaurants. The startup uses AI technology to calculate stock usage and automate new stock orders.

“Floki operates in an extremely analog sector. Its solution automates and simplifies the purchasing process, bringing immediate cost and time savings,” said Leonardo Teixeira, General Partner at Iporanga Ventures.

Founders Luigi Rodrigues and Marcelo Espiga started the company in the height of the COVID-19 pandemic. The services offered by Floki became essential to helping many restaurants survive as they sought to manage their stock in turnover drops of up to 70%.

After calculating stock, Floki then facilitates new purchases through its integrated platform that connects clients to over 300 different suppliers. In offering a comparison between suppliers, the platform offers restaurants a better price for stock.

The startup currently has 35 clients and aims to reach 200 in 2021.

Read more on Exame.

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